Financial Support
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Tuition and stipend
$40,000 Stipend
The graduate student stipend for 2024-2025 is $40,000.
of tuition fees are waived
Benefits
Students have access to a variety of support services, are offered a comprehensive, low-cost student health insurance plan, and more.
Fully funded with support designed for your success
Ph.D. Program tuition and funding
Unique to Mayo Clinic Graduate School of Biomedical Sciences, we offer a fully funded Ph.D. Program. We understand that when you’re able to focus entirely on your research and academic journey rather than the finances of your research, you’re able to prioritize your success.
What does fully funded mean?
In our Ph.D. Program, fully funded means that tuition costs are waived for all appointed students. Students also receive a competitive stipend to help cover living expenses, access to a comprehensive student health insurance plan, and other benefits.
Additional support
For further support, many students also offset the cost of their education with student loans, external grants and scholarships, and/or other funding opportunities. You'll also have access to the resources of the Office of Student Financial Aid and Registrar.
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Financial wellness support and additional resources
Depending on your personal financial situations, you’ll have access to a variety of additional resources. Our financial wellness team supports enrolled students with common topics such as, understanding our funding model, financial coaching, and financial wellness best practices to more complex, individualized topics such as how to manage stipend payments, loan repayment best practices, and more.
Comprehensive, low-cost student health insurance plan
All enrolled students are required to be covered by a medical insurance plan throughout their education program at Mayo Clinic. You have the option to either enroll in the student health plan offered by Mayo Clinic College of Medicine and Science or opt out to enroll in a different insurance plan.
Students who choose to opt out must provide proof of acceptable health insurance coverage by June 30. Coverage must be maintained through June 30 of the following year.
Acceptable insurance includes:
- Parent employer group plan
- Spouse employer group plan
- Student employer group plan
- Military/veterans benefits
- Medicaid (for the state the student is studying and/or participating in clinical experiences)
- Medicare
Specific coverage details for each academic year is made available closer to each start date, but these are a few highlights as you start to consider your options:
- Student cost for individual insurance premiums is estimated yearly; the cost for 2024-2025 is $2,184/year. The remaining premium cost is subsidized by MCCMS.
- Premiums are billed quarterly throughout the academic year.
For students eligible for federal financial aid, that aid can be accessed to cover premium expenses.
Tax information
Incoming students will receive details on the process after matriculation. Students receive a 1099 for tax purposes. Taxes are not withheld from stipends — students are responsible for making quarterly estimated tax payments.